Written by ForexBrokers.com
In this head to head comparison of IC Markets vs BDSwiss, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Founded in 2007, IC Markets is a well-established online broker known for its high level of trust. With a Trust Score of 84 as rated by ForexBrokers.com, IC Markets is considered a trusted platform, holding two Tier-1 licenses for its operations. Although it is not publicly traded or affiliated with a bank, the company's reliable regulatory status makes it a favored choice among many traders seeking a secure trading environment.
In comparison, BDSwiss, which was founded in 2012, holds a Trust Score of 73, categorizing it as an average-risk broker. While not publicly traded or a bank, BDSwiss manages to maintain a presence in the trading world with one Tier-1 license. Despite both brokers not harboring Tier-2 licenses, their regulatory standing offers prospective clients a clear picture, with IC Markets having an edge in terms of trust and regulatory compliance.
| Feature |
IC Markets
|
BDSwiss
|
|---|---|---|
| Year Founded | 2007 | 2012 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 3 | 2 |
When it comes to comparing the commissions and fees of online brokers, IC Markets stands out as a formidable option. Celebrated with a five-star rating and ranked 5th in the Commissions & Fees category by ForexBrokers.com, IC Markets offers competitive trading costs that appeal to traders looking for value. With its low effective spreads and no hefty deposit hurdles for commission-based accounts, IC Markets provides a cost-friendly trading environment akin to top brokers like IG and CMC Markets. They offer three account types: a commission-free Standard account, and the commission-based Raw Spread and cTrader Raw Spread accounts. The cTrader account boasts a slightly cheaper commission than the MetaTrader Raw Spread account, at $3.0 per side compared to $3.5, making it a viable choice for traders keen on minimizing costs.
IC Markets further appeals to active traders by offering discounts for those who trade over 100 standard lots per month. For a typical EUR/USD trade, IC Markets lists its average spread at 0.02 pips. This turns into an overall cost of 0.62 pips in the cTrader account and 0.72 pips in the MetaTrader Raw Spread account when commissions are factored in, positioning IC Markets favorably within the competitive landscape. Meanwhile, for those preferring a commission-free experience, their Standard account presents an average spread of 0.62 pips.
On the other hand, BDSwiss, with a four-star rating and ranked 29th by ForexBrokers.com, offers fair order execution but can't quite match IC Markets' fee structure. Its Classic account shows a heftier spread of 1.5 pips on EUR/USD, while its Raw account features a spread of 0.3 pips plus a $5 per side commission, leading to an effective spread of 1.3 pips. For those opting for the VIP account, the spread comes to around 1.2 pips. Although not the cheapest, BDSwiss may still serve traders who value solid execution and varied account offerings.
| Feature |
IC Markets
|
BDSwiss
|
|---|---|---|
| Minimum Deposit | $200 | $10-$5000 |
| Average Spread EUR/USD - Standard | 0.62 | 1.6 |
| All-in Cost EUR/USD - Active | 0.62 | 1.3 |
| Active Trader or VIP Discounts | Yes | Yes |
| ACH or SEPA Transfers | No | Yes |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
IC Markets and BDSwiss both provide opportunities for forex trading through CFDs or spot contracts, accommodating traders interested in the currency market. IC Markets offers access to 3,583 tradeable symbols, significantly more than BDSwiss's 1,081, providing a broader selection for investors seeking diversity. When it comes to forex pairs, IC Markets also leads with 61 options compared to the 53 offered by BDSwiss. However, neither broker provides exchange-traded securities on U.S. exchanges, meaning clients can't directly purchase shares like Apple; however, IC Markets allows trading on selected international exchanges, such as the London Stock Exchange, unlike BDSwiss.
In terms of alternative investment options, both IC Markets and BDSwiss offer copy trading and the ability to trade cryptocurrency derivatives, though neither supports the purchase of actual cryptocurrencies. Both platforms cater to traders with varied interests, but IC Markets edges ahead with a 4.5-star rating for its range of investments, compared to BDSwiss's 4-star rating. Additionally, IC Markets ranks higher at #25 out of 62 brokers in the Range of Investments category on ForexBrokers.com, while BDSwiss is positioned at #34, reflecting its slightly narrower offering.
| Feature |
IC Markets
|
BDSwiss
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3583 | 1081 |
| Forex Pairs (Total) | 61 | 53 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
IC Markets and BDSwiss both offer a wide range of trading platforms and tools that cater to various trader needs. Both brokers provide simulated trading through free virtual demo accounts, making it easier for beginners to practice their strategies without financial risk. While IC Markets does not have a proprietary platform, BDSwiss fills this gap with its own in-house platform. Both brokers support MetaTrader 4 and MetaTrader 5, guaranteeing access to popular tools and features. Additionally, both offer Windows-based desktop and web-based browser platforms, ensuring versatility in trading options. For those interested in copy trading, both IC Markets and BDSwiss provide this feature, but IC Markets also includes ZuluTrade integration, adding more flexibility for copy traders.
Charting capabilities are impressive with both brokers, as they provide 15 drawing tools and allow traders to execute trades directly from charts. Watchlist customization is also user-friendly, with seven available columns for organizing trade data. Despite these similarities, IC Markets holds a slight advantage in industry ranking for trading platforms and tools, positioned at #16 compared to BDSwiss's #24, although both are rated equally with four out of five stars. Whether you lean towards a platform offering ZuluTrade like IC Markets or prefer a broker with a unique, proprietary platform such as BDSwiss, both companies offer competitive features to suit different trading styles.
| Feature |
IC Markets
|
BDSwiss
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both IC Markets and BDSwiss offer comprehensive mobile trading experiences for iPhone and Android users, complete with stock and forex price alerts. Despite lacking the ability to sync watchlists between their mobile apps and online accounts, both brokers provide extensive charting features. Traders can access 30 technical studies, draw trendlines, view multiple time frames, and have their chart drawings automatically saved, whether using IC Markets or BDSwiss.
Users of both platforms can create watchlists with real-time quotes, boosting their ability to track market movements on the go. When it comes to ratings, both IC Markets and BDSwiss achieve a solid four out of five stars for their mobile trading apps. While IC Markets edges out BDSwiss slightly by ranking #22 out of 62 brokers on ForexBrokers.com, compared to BDSwiss’s #24 ranking, both platforms offer reliable and feature-rich mobile trading options for their users.
| Feature |
IC Markets
|
BDSwiss
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing IC Markets and BDSwiss for their market research offerings, both brokers provide daily market commentary to keep traders informed. IC Markets stands out by offering forex news from prestigious sources like Bloomberg and Reuters, a feature not available with BDSwiss. Both brokers offer advanced analysis tools from renowned firms such as Autochartist and Trading Central, providing traders with valuable insights. However, IC Markets further enhances its appeal with a sentiment-based trading tool that shows traders the ratio of long and short positions, a feature unavailable with BDSwiss.
Both IC Markets and BDSwiss provide economic calendars that display global news events, ensuring traders are aware of relevant economic updates. While neither broker offers additional research tools from companies like TipRanks or Acuity Trading, both are rated 4 out of 5 stars for research. Despite sharing the same star rating, IC Markets edges slightly ahead in the ForexBrokers.com research ranking at #23, compared to BDSwiss at #24. Choosing between these brokers might depend on the specific market research features a trader values most.
| Feature |
IC Markets
|
BDSwiss
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | Yes | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
IC Markets and BDSwiss both provide a wealth of educational resources for beginners looking to learn about forex and CFDs. Each broker boasts a collection of over 10 educational pieces, including articles, videos, and archived webinars, making it easier for newcomers to get started with trading. Additionally, both platforms offer online webinars each month, ensuring that clients have regular opportunities to deepen their understanding of trading concepts. The educational offerings don't stop there; both IC Markets and BDSwiss provide extensive video libraries covering beginner topics, making learning accessible and engaging for those new to the field.
For those looking to advance their trading knowledge, IC Markets and BDSwiss also cater to experienced traders with various advanced educational videos and comprehensive investor dictionaries featuring more than 50 investing terms. This allows traders at all levels to expand their vocabulary and grasp complex concepts. Both brokers have received favorable ratings for education, earning 4-star reviews. While IC Markets holds a slightly higher ranking at #16 compared to BDSwiss’s #19 in the ForexBrokers.com education category, both platforms demonstrate a commitment to providing quality educational resources, making either a compelling choice for learning and trading.
| Feature |
IC Markets
|
BDSwiss
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that IC Markets is better than BDSwiss. IC Markets finished with an overall rank of #20, while BDSwiss finished with an overall rank of #36.
IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.
| Feature |
IC Markets
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BDSwiss
|
|---|---|---|
| Overall Rating |
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| Trust Score | 84 | 73 |
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Both IC Markets and BDSwiss do not offer the ability to buy actual delivered cryptocurrency, but they do provide options for purchasing cryptocurrency derivatives.
IC Markets and BDSwiss both provide options for using Skrill, Visa or Mastercard, and bank wires to deposit or withdraw account funds, but only IC Markets supports PayPal transactions while BDSwiss uniquely offers ACH and SEPA transfers, positioning each broker distinctly in terms of funding flexibility.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | IC Markets | BDSwiss | |
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| Trust Score | 84 | 73 | |
| Winner | check_circle | ||
| Review | IC Markets Review | BDSwiss Review |
| Broker Screenshots | IC Markets | BDSwiss | |
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| Regulation | IC Markets | BDSwiss | |
|---|---|---|---|
| Trust Score | 84 | 73 | |
| Year Founded | 2007 | 2012 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 3 | 2 |
| Tier-1 Licenses (Highly Trusted) | IC Markets | BDSwiss | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | IC Markets | BDSwiss | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IC Markets | BDSwiss | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3583 | 1081 | |
| Forex Pairs (Total) | 61 | 53 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | IC Markets | BDSwiss | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.62 | 1.6 | |
| All-in Cost EUR/USD - Active | 0.62 | 1.3 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | IC Markets | BDSwiss | |
|---|---|---|---|
| Minimum Deposit | $200 | $10-$5000 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | Yes |
| Trading Platforms | IC Markets | BDSwiss | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | IC Markets | BDSwiss | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IC Markets | BDSwiss | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | IC Markets | BDSwiss | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | Yes | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | IC Markets | BDSwiss | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | IC Markets | BDSwiss | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | IC Markets Review | BDSwiss Review |
| Overall | IC Markets | BDSwiss | |
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| Trust Score | 84 | 73 | |
| Winner | check_circle | ||
| Review | IC Markets Review | BDSwiss Review |
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